Lifetime ISA £450,000 cap

Mr T. Francis made this Freedom of Information request to HM Treasury This request has been closed to new correspondence. Contact us if you think it should be reopened.

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Mr T. Francis
Delivered

Dear Her Majesty's Treasury,

Since the Lifetime ISA scheme was launched, data from the UK House Price Index shows that house prices have increased by 23% over this period, yet the cap for the Lifetime ISA scheme has remain unchanged at £450,000.

Please can you advise what the basis was for using £450,000 as the cap for the scheme and what considerations were made in the decision not to increase this cap over time as a result of house price inflation?

Yours faithfully,

Mr T. Francis

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FOI Requests, HM Treasury

Our ref: FOI2022/07996

Dear T Francis,

Thank you for your request for information which we are considering under
the terms of the Freedom of Information Act 2000.

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Yours sincerely

Information Rights Unit | Correspondence and Information Rights | HM
Treasury, 1 Horse Guards Road, London, SW1A 2HQ [1]www.gov.uk/hm-treasury

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Dear T Francis

Please find attached a response to your recent FOI request.

Yours sincerely

Information Rights Unit | Correspondence and Information Rights | HM
Treasury, 1 Horse Guards Road, London, SW1A 2HQ [1]www.gov.uk/hm-treasury

References

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1. http://www.gov.uk/hm-treasury

Link to this Report